Recent Manheim auction prices

Look to be depreciating like any other garden variety Audi.

Good info though.

DL

 

Looks steady to me on the wholesale level.

 

thanks aj... our local dealership, that will soon be dissolved will apparently sell the 4 remaining g cars in stock at or slightly below list... at least that is the impression i got fron the sales person...i did not actually put an offer on the car as it is not a murci or diablo,but still a great car none the less

 

Of course not....but this is just the tip of the iceberg my friend. I'd look to pick one up at a steal for a before too long.

DL

 

Just a quick side note, those prices are all MSRP or better on each of those cars. I know because I watched every one of them sell either in person or online when it ran. Almost all of them were base cars with the exception of the E-gear. I happen to have one of them sitting in my showroom to prove it. The prices are not slipping much at all. And A.J., how the hell did you get that stuff Oh well, I guess info is a commodity just like cars are.

Chris

 

Chris and Car Guy:

I too have been following the Manheim auctions and have concluded that something strange is going on with respect to high line cars. Namely, I suspect the these are retail prices. That is, it appears that there is a lot of proxy buying going on where dealers are buying cars customers based on pre-arranged orders.

For example, to get away from the the my **** is bigger than your **** argument (even though we know the truth, eh?), here is a recent Manheim auction for a 360 Spider:

05/12/2004 W PALM $224,000 58 mile BLUE F1

The problem is that $224,000 for a 2004 Spider is all the money in the world. While these cars are not exactly sitting on the floor, if you are a real buyer, you can find one of these cars for $20,000 over sticker, if you look hard enough.

My point is that this is not a wholesale number. Moreover, I'm gonna guess that your Lambo numbers are not wholesale either.

Please understand, I'm not saying that Lambo prices are tanking. But it does appear that the Manheim number on high end cars are retail, not wholesale.

Your thoughts?

DrTax

 

Well you are correct that the prices are right around retail, they are still technically considered wholesale numbers. The idea about having them pre-sold is more than likely. I've heard other wholesale prices, in other instances, that were flirting with retail. I found out the cars were "pre-sold" and the only reason the prices got as high as they did was becasue two dealers had it pre-sold and got in a pissing match.

Another scenario would be retail buyers themselves actually getting in or, "casual dealers" getting in on the action. I'm not sure, but I don't think you are a dealer, are you Dr. Tax? But you have the results.

 

Dem's da know ain't talking...

 

AJ

You can't appreciate that I went out of my way to get a real world opinion from a high end dealer of the G-car market? Me putting my money where my mouth is?

An, "Ear to the ground/in the trenches" assessment of the quickly dropping G?

No response?

I expected more but in allanlambo-esque fashion... you drop a statement and go deep when the truth hits home.

DL

 

Why keep spouting about something you obviously know nothing about? Just because you don't like the car doesn't mean they are giving them away like 550's! Go try to actually buy one at your plummeting prices and you will see that you can't. How many people that are actually in the market do you need to tell you that you have no clue?

 

What on Earth does a 550 have to do with this? OK, since you brought it up...I can flip my car and MAKE $$ right now. I don't believe a G-car owner can. Do you? Really? Oh, and btw, I happen to like the G and really like the Murcie.

I just can't imagine why you cant get over the fact that they AREN'T Ferraris and aren't going to hold in value at the same level (based on like models of course).

As far as this thread....a man said to put my money where my mouth is and I have. Why? Because I wanted to know more.

whatever.com

DL

 

sorry if this is a stupid question - i don't know too much about how the auction market works for cars.

if a high-end car is selling well, and for at or above sticker, why would it go through auction? it's not like there are 1000 gallardos on the lots around the country - we're talking about more like 25 - 50 cars absolute max tops. and, the few stragglers aside, generally everybody knows where they are.

so why would a car like this go to auction instead of being sold dealer to dealer or dealer to customer given how the prices are holding?

doody.

 

Actually, you hit the nail on the head. The truth is that there is no organized wholesale market for these high end cars. Don't misunderstand, there are a few wholesale brokers, such as The Sports Car Company. However, it is still a word-of-mouth bidness. Somehow, somewhere, a car falls out of bed. The sale manager makes a few calls. Some are to other dealers. Some as to the less than half-a-dozen wholesale brokers in the country. If all else fails, you can run the car through the Manheim PA, Riverside CA, or West Palm, FL high line auctions.

To give you an idea, the Manheim records show that only 18 360 Spiders have crossed the block since 2001. I don't know how many Spiders were imported, but 18 ain't a whole lot. This means that the rest of them were sold through back channels.

As far as the Lambos go, my guess is that they are still working on putting their networks together. Any time you introduce a new line to such a diverse market as the USA, it takes a while to put the pieces together. So if you are seeing a high number of Lambos cross the block, this is my guess as to the reason why.

One last thing. There appears to be a fixation where retail buyers of exotic cars want to pay wholesale prices. While it is logical to want to get the best possible deal, it is illogical to think that you can get a wholesale price unless, of course, you are a wholesale dealer.

To see if you are a wholesaler, please take this simple test:

"Ring, ring, hey Jim-Bob (that's you) it's Larry here.

(Fast forward through several minutes of totally inane gossip and innuendo.)

Hey listen Jim-Bob, the reason I'm calling is that I have a Red/Tan 2002 Spider coming in that I need to get $190 for. Are you interested?

Sure, let me make a few calls and get back to you this afternoon."


If you are in a position to buy a Ferrari (or Lambo) over the phone like Jim-Bob, you are a wholesaler.

If not, you are a retail buyer, and you're gonna pay a retail price. That's just the way the game is played.

DrTax

 

Amen to that.

 

Speaking of depreciation, how does a '97 550 compare to a similar miles '97 Diablo SV?

 

Interesting question, or perhaps point. In the UK, the asking price on the Diablo might be approx 20% higher than the 550.

£60K for 550..... £75K for Diablo.